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EUR/USD fails to drive home a rebound above 1.10
As you know the EUR/USD had a brief foray above the 1.10 handle. The move was flagged here in advance yesterday and as such it was not really a surprise. However, the failure of the Euro to drive home its advantage is surely a disappointment to Euro bulls. The EUR/USD closed in the US last night at 1.0952. The range seen so far today has been covered by 1.0944 to 1.0963, which given the current circumstances is remarkably tight. The data calendar today is incredibly light and so once again the Yen and the stock markets will be the main driver and right now the situation has calmed down and volatility has fallen back, but that is not guaranteed to remain the same. The markets are still watching developments in the Middle East very closely and waiting to see how that all unfolds. The EUR/USD is currently trading at 1.0953
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